Educational toys and teaching materials distributor Scholar’s Choice has announced a restructuring plan to decrease retail store footprint.
To facilitate the plan, the retailer filed for creditor protection via a Notice of Intention (NOI).
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As part of the plan, the retailer will close all of its brick-and-mortar retail stores except three.
The company will focus on its e-commerce and catalogue operations across Canada.
The three retail stores will serve as regional sales and distribution centres to support its shift in business to an online-first environment.
They are located in Winnipeg, servicing Western Canada, London (Head Office) servicing Central Canada and Moncton, servicing Eastern Canada and Quebec.
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By GlobalDataClosing sales for the stores already started on 10 July.
Scholar’s Choice CEO Scott Webster said: “The impact of the Covid-19 pandemic has had a catastrophic effect on the Canadian retail sector.
“It has forced many businesses to make adjustments to survive the unforeseen events and Scholar’s Choice is no exception.
“Given the current climate, we felt it was important to be proactive in shaping the direction of the company for the future.
“With fewer “brick and mortar” locations the company will be more nimble and able to focus on providing a better experience for its customers.”
Scholar’s Choice catalogue and web customers will not be affected by the restructuring.
Consumers in areas where Scholar’s Choice stores are closed can access the new scholarschoice.ca website.
